Orient Green Power raises $55 million from private investors

Chennai: At a time when dollar funds are fast drying up for Indian corporates, city-based renewable energy company Orient Green Power Company Ltd. has raised $55 million as equity from foreign and private investors.

Declining to share the revised shareholding pattern in Orient Green, T.Shivaraman, managing director & chief executive officer of Shriram EPC said: "Olympus Capital invested $35 million while Bessemer and Shriram EPC put in $10 million each. The exit route for the investors will be through a public issue couple of years down the line."

Leveraging its total equity of $75 million, Orient Green will raise debt from domestic banks to fund its ongoing as well as future plans.